other material
confidence high
sentiment positive
materiality 0.80
LCNB Corp. repurchases 1.05M shares (8.5% of outstanding) from Lame family at $20.00/share
LCNB CORP
- Repurchased 1,051,687 shares from John C. Lame and family, representing 8.5% of outstanding common stock.
- Purchase price of $20.00 per share agreed on Feb 4, 2022; stock closed at $20.13 on that date.
- Expected to be 6.82% accretive to 2022 EPS and approximately 7.0% accretive in future years.
- Since 2019, LCNB has repurchased over $37M of stock and distributed nearly $27M in dividends.
- Funded with cash on hand and an unaffiliated bank line of credit; capital levels remain strong.